A residence in Vasant Vihar, Delhi, owned by Poonam Juneja, the wife of Mankind Pharma’s Director, was recently listed for sale at a price of Rs 91 crore.
Ramesh Juneja, the chairman o474f Mankind, and his family rank among the wealthiest families in India, with an astounding net worth of $4.2 billion or Rs 34,000 crore. Recently, a residence in Vasant Vihar, Delhi, owned by Ramesh Juneja’s wife, Poonam Juneja, was listed for sale at a price of Rs 91 crore.
The property was purchased under the name Everest Pressure and Vacuum Systems by three family members: Dhruv Malhotra, Daksh Malhotra, and Ranjana Malhotra.
Who is Poonam Juneja?
Poonam Juneja is the wife of billionaire Ramesh Juneja, the founder of India’s prominent pharmaceutical company. Poonam holds the position of Director at Mankind Pharma, a company with a substantial market capitalization of Rs 54,317 crore according to Moneycontrol. Arjun Juneja, the son of Poonam Juneja, oversees the company’s overseas operations and has received his education at the University of Strathclyde.
Ramesh C. Juneja, an Indian billionaire, holds the position of Chairman at Mankind Pharma. According to Forbes, he is considered one of the wealthiest individuals in India, with a remarkable net worth of $4.2 billion. In 1995, Ramesh Juneja and his younger brother Rajeev founded the privately-owned pharmaceutical company, Mankind Pharma.
Mankind Pharma, a renowned pharmaceutical company, generates the majority of its $1 billion in annual revenue from India, establishing its leadership in the production of affordable generic medicines. In addition, the company manufactures popular brands of contraceptives and pregnancy test kits. Ramesh Juneja started his professional journey in 1974, working for Kee Pharma after completing his science degree. He gained further experience by working for different enterprises before eventually founding Mankind Pharma with his brother in 1995.
When the brothers initially launched the business with just Rs 50 lakhs, the very first batch of staff consisted of 25 Medical Representatives. Over the years, Mankind Pharma witnessed significant growth, with the company’s revenues escalating from Rs 3.49 crores in 1995 to Rs 3,500 crores by 2015.
Poonam Juneja’s Delhi property deal
According to the Economic Times, Poonam Juneja and her family paid a stamp duty of Rs. 4.85 crore for the property. This transaction took place shortly after Mankind Pharma was subjected to a tax raid by the Income Tax Department. Based on the transaction documents accessed by ET, the property measures 1,501 square meters and covers an area of 1,200 square yards.